This article was first published by Healthcare Dive and is republished by CFO.com.
Eladio Gil has stepped in as interim CFO at Cano Health while the value-based primary care chain conducts a search for a permanent successor to Brian Koppy, who left the company at the end of September.
Gil previously served as chief operating officer of Cano subsidiary Care Management Resources for almost six years, according to a filing with the Securities and Exchange Commission. He was also listed as Cano's former vice president of Medicare Advantage finance in a news release.
Before joining Cano, Gil held leadership roles at Total Health, CarePlus Health Plans, Humana and UnitedHealth Group, according to a press release.
Cano is in the midst of restructuring as it faces growing financial losses. The company was criticized by three board members this spring, who resigned in protest of what they called poor corporate governance and a “crippling debt burden.” Cano founder Marlow Hernandez stepped down as CEO in June, and his interim replacement took on the permanent job months later.
In August, the company posted a $270.7 million net loss for the second quarter, which was nearly 19 times larger than its $14.6 million loss in the prior year-period. At the time, the primary care chain said it might not be able to meet its financial obligations within the next year, and that it would look for a buyer, shut down operations in several states and Puerto Rico, and lay off hundreds of employees.
Last week, Cano announced it had sold its care centers in Texas and Nevada to Humana's CenterWell Senior Primary Care for $67 million.